Long term passive industrial investment

17-19 Leamington St 14 Beaumaris Ave, Castlecliff

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Long term passive industrial investment | 17-19 Leamington St 14 Beaumaris Ave, Castlecliff | 3001118 |      X Close

Long term passive industrial investment

•Generous freehold land parcel totalling 24,957sqm

•New 10-year leaseback from settlement

•Returning $650,000 per annum net plus GST

•Well located industrial property totalling 11,485sqm of net lettable area

This property represents a unique offering to the market with a nationally recognised tenant who has confirmed their commitment to the site with a long-term lease upon the sale of the property.

Extemely well situated within the Castlecliff primary industrial precinct, the property is within close proximity to other major industries including Affco Imlay Freezing Works, Open Country Dairy and Tasman Tanning. Castlecliff provides the majority of the city's heavy industry and its railway has been re-commissioned and connects to the Whanganui branch railway, and then onto the Marton/New Plymouth rail corridor.

This large parcel of freehold land measures circa 2.4ha. The site has been occupied since the 1970s by Cavalier Spinners, who produce carpet under the umbrella of Cavalier Bremworth. The property features a large 10,632sqm factory, a number of smaller sheds, generous sized offices and amenities all with easy on-site access and a large sealed yard and parking area.

This is a great investment opportunity offering a generous flat site, the security of a ten year lease and the potential for future development. The property is to be sold individually or as part of a larger national portfolio for Cavalier Bremworth with other properties in Napier and Auckland offering an average WALT of 8.6 years. To view details on the national portfolio view www.bayleys.co.nz/1902461.

17-19 Leamington St 14 Beaumaris Ave, Castlecliff

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